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  • Stockboy_II Stockboy_II Oct 3, 2000 9:58 PM Flag

    Stock, was that you?

    Actually, I said I would now sell some, only
    some, when it got to $31.25. That other poster
    convinced me that I was being too conservative at only $31.
    It didn't quite hit my target, at least long enough
    for me to do something about it. I didn't have a
    limit order in.

    Interesting point, Fan, on
    Summit purchase affecting BBT price. For some reason, I
    forgot about a possibility of BBT being sold as a price
    driver. How soon we forget when we're ponitificating!!
    Just goes to show that I've been taking myself too
    seriously! The answer to that, of course - more golf!! Man
    do I ever be so humble out on the course! Bah -
    humbug!

    If BBT is seen in play - which I doubt - then the PE
    could escalate. But who would/could buy them? They have
    a bigger market cap than WB, if you can believe
    that. I would have said Fleet as a possible, Wells as a
    likely, and TSI as too late! But what do I
    know??

    I think any purchase premium will shake out soon -
    it would have to be a perfect deal and I doubt there
    is one perfect enough for Mr. A, Mr. K, and Mr. W
    out there - i.e., they run the joint!

    So,
    we're back to good old earnings and multiples thereof.
    (Dang that sounded like a NY lawyer, didn't it?!) I
    still think Mr. A should quit diluting the stock and
    use some of that cash to buy some back and reward the
    shareholders. I mean, why buy that mortgage thing? Everybody
    else sold their's a few years ago. Course, he's made
    other clever purchases - like Regional Acceptance - boy
    was that a great deal!

    I know I'm being harsh
    - in general Mr. A has done an excellent job, but
    what would have earnings been this year if he had
    curbed his dilutive growth over the past two years and
    what would my share price be now? It's a valid
    question I think. Where is their shareholder's meeting
    next year? Maybe I should
    ask........

    Regards...and only MHO.......

    Stock

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    • Stock, don't forget that buybacks have and will
      be part of the plan to enhance value (1) when the
      price makes sense, and (2) when they're out of
      registration with the SEC in connection with pending
      deals.

      Also, don't forget that the deals done are neutral in
      the second year and accretive to EPS by the third
      according to the policy outlined in the annual report.
      Aquisitions that make sense for s/h are a stated line of
      business. With all the deals in the past, you're ahead of
      the game.

      If you haven't been to an annual
      meeting you ought to do it. I haven't a clue where the
      2001 meeting will be, but I wouldn't be surprised if
      W. Va. were picked due to the new block of s/h up
      there. It was in DC in '99 and Atlanta last
      year.

      Keep your left arm straight.

      Long/Fan

    • Stock:

      Did you type that whole big note by
      yourself? You ain't no >65 year old, you codger
      you!!

      Me and RW are going to get together for an old
      fashioned lunch somewhere. You got any cracker barrels by
      you? I lvoe the dumplings.

      BBT is going to hit
      36 by year end. Thats my prediction. I had gert by
      soome at 25.

      Doctor JunJun

 
BBT
35.41+0.030(+0.08%)May 2 4:01 PMEDT